India, July 20 -- Tata Power has received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for the supply of 324 MW power from the 1000 MW Pumped Hydro Storage Project (PSP) at Bhivpuri in the Raigad district of Maharashtra.

The project has been secured under SECI's Tariff-based Global Competitive Bidding (PSP-I) for supply of 1,500 MW / 12,000 MWh of power from pumped hydro storage projects being set up in the country. The Project was won through an e-reverse auction. It has 40-year Pumped Storage Purchase Agreement (PPA) and is scheduled for commissioning by 2029.

The project will be developed under the Build, Own, Operate (BOO) model and will provide 8 hours of energy storage, enabling reliable dispat...